Banking

Price competition on deposits may finally force the largest banks to pay up, and consumers’ aggressive use of rewards and promotional rates is weighing on card income. And then there are those tariff fights that could hurt global clients.

The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a one-off or the beginning of a long-term problem?

The suit against Alliant Credit Union comes just weeks after trade associations said firms were using social media ads to target plaintiffs for a potential class-action case.

New service provides credit scores to members via mobile, home banking.

The CFPB said National Credit Adjusters had hired third-party collectors that routinely inflated the amounts that customers owed.

The Pittsburgh regional detailed plans to enter a number of new markets with its digital bank and carefully chosen branch openings.

People's United in Connecticut pored over all the customer data it could find to persuade customers to give the midsize bank — instead of advisory firms and investment houses — a shot at managing their money.

Strong demand for business and multifamily loans, combined with double-digit growth in wealth management revenues, more than offset rising expenses.

The digital advice startup had no one with knowledge of branch banking. A board member told them to call Mike Reed, JPM's former retail branch chief.

Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great.

Citigroup's traders underperformed their peers at JPMorgan, and Citi's U.S.-branded card revenue fell. Its global business performed well, but the looming trade war presents uncertainty.

PNC revealed the plan as part of its report of strong second-quarter results, and CEO Bill Demchak said it is an example of the regional bank's growth-oriented investments.

Mortgage fees at the nation’s biggest home lender declined by a third in the three months ended June 30 to the lowest in more than five years.

The change in store card branding would be a big blow to Synchrony; “equivalence” with EU rules “falls far short” of U.S. banks’ hopes.

The information you need to start your day, from PaymentsSource and around the Web. Nike opens high-tech store; Milan airport deploys contactless payments; Japanese e-payment startup Paidy attracts investors; ICOs perform poorly.

JPMorgan Chase & Co. said its book of core loans expanded 7% in the second quarter and trading revenue jumped 13%.

It will be the third collaboration together for the new CEO and CTO at Pivotus Ventures.

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost.

While the Small Business Investment Companies program has reported disappointing results since its 2015 peak, participating funds are getting more looks from curious bankers.

Credit unions remain committed to their central missions as they grow, says PenFed’s chairman.